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Satellite Market Size, Share Global Analysis Report, 2022 – 2028
Satellite Market Size, Share, Growth Analysis Report By Type (Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite, By End User (Commercial, Civil, Government, Others), By Application (Scientific Research, Technology Demonstration and Verification, Earth Observation and Remote Sensing, Scientific Research, Communication), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028
Industry Insights
[231+ Pages Report] According to Facts and Factors, the global Satellite market size was valued at USD 3,264.9 million in 2021 and is predicted to increase at a CAGR of 6.5% to USD 4,763.9 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.
Market Overview
A satellite is an object that is set on a path to orbit a certain body like the moon orbiting the earth and but usually, satellites in our lingo mean a machine that is launched into space or the topmost atmosphere for special purposes or functions. Satellites are mostly used for communication, broadcasting, and location tracking services. Increasing technological proliferation and rising demand for advanced services are expected to propel the demand for Satellite over the forecast period. Rising advancements in space technology also influence the Satellite market potential.
Increasing government expenditure on launching new satellites for surveillance and defense applications is expected to provide lucrative opportunities for Satellite manufacturers. Increasing demand for LEO satellites will also provide lucrative opportunities for Satellite companies through 2028. However, high costs of manufacturing and launch are expected to have a restraining effect on the global Satellite market potential over the forecast period.
Impact of COVID - 19
The sudden emergence of the COVID-19 pandemic led to major changes in the global economy and had a negative impact on almost all aspects of the world resulting in a slowdown of economic growth across multiple nations. The Satellite market also experienced a downfall in its growth trend due to the pandemic which caused the Satellite manufacturers to incur big losses. Slow economic growth and hampered manufacturing and research activity during the pandemic led to negative growth in the Satellite market. The Satellite market is expected to make a good comeback in the post-pandemic era as the world returns to normal and lockdowns are lifted. As economic growth picks up we will see good growth in the Satellite market potential as well.
The complete research study looks at both the qualitative and quantitative aspects of the Satellite market. Both the demand and supply sides of the market have been investigated. The demand side study examines market income in various regions before comparing it to all of the major countries. The supply side research examines the industry's top rivals, as well as their regional and global presence and strategies. Each major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is thoroughly investigated.
Segmentation Analysis
The global Satellite market is segregated based on types, end users, applications, and regions.
In terms of end users, the commercial segment is projected to account for a major market share and is anticipated to have a bright outlook through the coming years. The rising need for commercial applications such as broadcasting, communication, imaging and agricultural monitoring is expected to boost the growth in this segment and will drive demand for Satellite through 2028.
The Communication segment is expected to have a bright outlook over the forecast period owing to the rising need for better communication facilities across the world. Increasing demand for faster and more secure satellite communication links in the defense industry is expected to be a major trend driving growth in this segment. The earth Observation and Remote Sensing segment will also see high demand as the world undergoes climate changes and in order to track these changes accurately on a global scale satellites are used and hence will drive the Satellite market growth over the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 3,264.9 Million |
Projected Market Size in 2028 |
USD 4,763.9 Million |
CAGR Growth Rate |
6.5% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
SES S.A., Eutesat Communications S.A., Lockheed Martin Corporation, Airbus S.A.S., Boeing, Thales Group, Orbital Sciences Corporation, Planet Labs Inc., Millennium Space Systems, Inc., and Others |
Key Segment |
By Types, End User, Applications, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Regional Landscape
The region of North America accounted for a major market share in the global Satellite market landscape owing to the presence of developed infrastructure and the presence of key Satellite manufacturers. Increasing investments in defense satellites and communication satellites by the governments in this region will also boost the Satellite market growth over the forecast period. The United States is projected to emerge as the most lucrative market in this region owing to rising support from the government and increasing military spending on defense-based satellites.
In February 2021, Lockheed Martin a leading name in the aerospace and defense sector awarded a contract to California-based ABL Space Systems to develop low-cost launch infrastructure for its small satellites.
List of Key Players in the Global Satellite Market:
- Intelsat
- SES S.A.
- Eutesat Communications S.A.
- Lockheed Martin Corporation
- Airbus S.A.S.
- Boeing
- Thales Group
- Orbital Sciences Corporation
- Planet Labs Inc.
- Millennium Space Systems, Inc.
The Global Satellite Market is segmented as follows:
By Type
- Large Satellite
- Mini Satellite
- Micro Satellite
- Nano Satellite
By End User
- Commercial
- Civil
- Government
- Others
By Application
- Scientific Research
- Technology Demonstration and Verification
- Earth Observation and Remote Sensing
- Scientific Research
- Communication
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Intelsat
- SES S.A.
- Eutesat Communications S.A.
- Lockheed Martin Corporation
- Airbus S.A.S.
- Boeing
- Thales Group
- Orbital Sciences Corporation
- Planet Labs Inc.
- Millennium Space Systems Inc.
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